Aurelius Technologies seeks listing on Main Market

Aurelius Technologies Bhd is seeking to list on the Main Market. Maybank Investment Bank is the principal adviser, sole bookrunner and sole underwriter.

KUALA LUMPUR: Aurelius Technologies Bhd (ATech), which provides electronic manufacturing services (EMS) focusing on industrial electronic products, is offering 77.01 million new shares under its proposed listing on the Main Market of Bursa Malaysia Securities.

According to its draft prospectus posted on the Securities Commission (SC) website, Maybank Investment Bank is the principal adviser, sole bookrunner and sole underwriter.

The initial public offering (IPO) involved a total of 103.87 million shares in ATech comprising the 77.01 million new shares and an offer for sale of up to 26.86 million existing shares.

The institutional offering of up to 80.96 million IPO shares to Malaysian institutional and selected investors, including approved bumiputra investors will be via at an institutional price to be determined by way of book building.

The retail offering of 22.91 million issue shares comprising five million shares are for directors and eligible ATech Group employees and 17.91 million for the public at the retail price which is subject to refund of the difference between the retail price and the final retail price.

ATech said BCM Electronics is its sole subsidiary which provides EMS for industrial electronics products.

With its production facility in the Kulim Hi-Tech Park, it manufactures two types of industrial electronic products, namely electronic parts and products, and semiconductor components.

BCM Electronics was established in 1993 pursuant to a technology transfer agreement between Motorola Inc and Comintel Sdn Bhd to jointly develop manufacturing capabilities in line with the government’s efforts to promote technology transfer to local companies.

ATech posted net profit of RM16.67mil in the financial year (FY) ended Jan 31, 2021 compared with RM23.59mil in FY ended Jan 31, 2020 as it was affected by the movement control order.

Revenue was lower at RM362.16mil in FY ended Jan 31, 2021 versus RM389.30mil in FY20. It has a targeted a payout ratio of 20% of its profit after tax of each financial year on a consolidated basis after taking into account working capital requirements.

Datin Normaliza Kairon is the chairman of ATech. Lee Chong Yeow @ Lee Chong Yan is the group chief executive officer. He was also the CEO of BCM Electronics and was appointed ATech group CEO on March 25.

ATech had on July 20 entered into an agreement to acquire the entire shareholding of BCM Electronics, comprising 32.86 million shares for purchase consideration of RM84.35mil via the issuance of 281.19 million new shares.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Business News

FGV appoints independent consultant to review director's remuneration
Malaysia palm oil millers halt production as CPO prices plummet
Credit Suisse found guilty in cocaine cash laundering case
S&P revises Malaysia's sovereign credit ratings’ outlook to stable, projects GDP to grow 6.1% in 2022
Sapura Energy returns to the black with RM91.9mil net profit in 1Q
Ringgit depreciates against US dollar
DNeX to explore business synergy with Saudi Arabia-based Abilitii
Pertama Digital exploring with banks to provide digital banking products
Mynews posts net loss of RM10.22mil in 2Q22
Southern Cable targeting higher exports in FY22

Others Also Read